commodities are volatile like that. if you look at the 70s, we certainly saw evidence of that. >> david: like she said. >> neil: i'm way too young to remember that. david, i apologize, i want to thank you both very very much. >> david: absolutely. >> neil: we've been dragging you throughout this whole thing, that's my bad. i appreciate your insight into all of this. charles payne has a lot on his plate for the next show. he always does. no one hits it out of the park like him. here's charles to make sense of this crazy world. >> charles: i will try. thank you very much. good afternoon. i'm charles payne. this is making money. breaking right now, stocks, we have a strong bounce going. the question is can this become a monster rally, or maybe something more? investors are continuing to get aggressive, maybe even more aggressive, but there are some lurking signs we must pay attention to. we will break it all down. my take away, you want me to talk about it? i can't wait. wall street wants the retail

investor to capitulate, sell even at these levels. the market is ignoring the protests after the supreme court strikes down roe versus wade, but this is a huge story, for many reasons, including states and businesses. they will have to figure some things out. we have senator marsha blackburn to share her thoughts, at 2:35. you know what inflation is. here's the question, should we have inflation or a recession? that's the tug-of-war that j powell is dealing with. i will ask economist chris lowe. all that and so much more on "making money". ♪ ♪ >> charles: there's an old saying mighty oaks from little acorns grow. you know, it could be applied to millions of people that joined the new investor revolution, just wanting to be in control of their own financial destiny, but wall street wants them to take big losses and simply get back in line. it could also apply to what's happening in the stock market

right now. it's a bear market bounce, but it's beginning to think it could be a whole lot more. it is more than just a feeling or a hope; right? i mean, there are some signs that the economy is slowing enough to prevent the fed from going too far, and yet, maybe not slow enough that we can slide into a ditch, you know. maybe we're getting to that point. the idea of course picked up momentum this morning after jpmorgan announced that, quote, our forecasts expect the fed to be largely successful in engineering a soft landing, at least through the end of the next year. of course there are a lot of moving parts, and it's a very complex crisis that's really resulted in one of the worst starts to the new year in trading history, the second worst ever. joining me is to discuss a chief investment strategist tim paulsen. i have to say, what more -- what jpmorgan said this morning i feel like you have been saying the last few weeks.

you are one to kind of buck the trends anyway, and maybe you come out a little bit before everyone else, but now it is starting to feel not just from what jpmorgan said, but for some of this other data, that maybe we might get something akin to a soft landing >> that's my take, i guess, charles. that's where i lean. i mean, certainly the recession probability are up. there's no doubt about that. but i think we're going to probably still have more likely will not have recession here. you know, i look at this whole episode as more like a mid-cycle correction rate hiccup than i do a cycle ending event. we have mid cycle hiccups rather regularly, and rates go up. the fed tightens. we worry about inflation, and then the economy slows down. and then inflation fears sort of ease. and when that happens, the fed eventually can turn more [inaudible] and the stock market takes off on a second leg. >> charles: right. >> i kind of think that's the play book for here, you know.

to me -- >> charles: here's the thing, to your point, all eyes are on j powell this week, but parts of the inflation picture that he can influence i think is starting to move in the right direction. commodity prices are coming down. container shipping costs are declining. where do you stand on inflation with respect -- inflation/recession debate in the timeline? >> i think when i look back at major inflation, charles, almost every inflation that's risen above 5%, inflation cycle has been a v top. we rarely ever had [inaudible] inflation tops, so they generally come down pretty rapidly, once they start to roll. and i think -- i see that happening. as you said, commodities from energy now to softs to agriculture to industrials are all rolled over. the core cpi, ppi, and

[inaudible] have decelerated in the last two months. wage inflation up by 3 3/4%. break even rates in the bond market have come down dramatically. the two year break even rate inflation expectations was 5% in march. now it is about 3 1/2% overall. you know, we got retail inventory -- that means we will get retail discounts. to me, there's more evidence that inflation has rolled over than there's ever been since the inflation cycle started. if you put that together with weaker economic reports, if you think about where the fed gets its directive, it gets it from the economy and the bond market. >> charles: let me jump in real quick because we're running out of time. you brought up something that's really important. bill ackman put out a tweet yesterday at the close saying that the bond market is misreading the federal reserve, likely due to its communication style and wishful thinking. i have two questions here: one, number one, do you think he's right about inflation being out of control? i don't think you agree with that. but more importantly, he said

something that's so intriguing, how does any investor figure out this market, and at the same time shut out wishful thinking? it feels like to be an investor, you've got to be a wishful thinker in the first place. >> yeah. i do think -- it is important for investors to remember that over time as long as the united states doesn't go out of business, you know, gdp and the stock market is going to go up. and that is important. and i think, you know, we've had a long ugly period here of at least a half a year in a 20 plus decline in the s&p 500, worse than other markets. we've got a lot of fear about inflation, about recession, and we still got pretty solid fundamentals. to me, that's not a place you run away from. that's when you have to kind of have the wherewithal to step up and start taking advantage of what fear has done to valuations out there. it's a better time to buy than when you feel real comfortable. it usually is. >> charles: amen, brother.

thank you very much. appreciate it. have a fantastic weekend. >> thanks for having me. >> charles: i have been seeing a lot of buying in the sort nonprofitable tech names, those unmitigated disasters. on a more conservative end, you have folks piling into defensive names, utilities and staples, out of value names which were hot at the beginning of the year. now there's buying across the board today. i want to bring in mahoney training director of options daniel shay. is that the name of your firm? also bell point chief strategist david nelson. this week is an acorn, one week out of the last five, we're finally up. can it become a mighty oak? >> charles, i get what you are trying to do. you are trying to make me go out on a limb. [laughter] here's what i will say. it is a big departure from yesterday. yesterday it was a defensive take and recessionary.

coming into this week, only about 14% of stocks were trading above 200 day moving average. there's been a few times it's been worse than that, the financial crisis, covid, but this is kind of the red zone. a lot of stocks to your point have fallen 70, 80, 90 percent. like you said it is a bear market rally until it isn't. >> charles: right. >> the best thing it has going is no one believes it. >> charles: it's simpler trading direction of options by the way daniel shay. tradeable bounce? something that we want to try to make money on the upside in? -- danielle shay. >> it is definitely a tradeable bounce. i think we have more upside here. for me until we get to 4100 in the s&p, all it is is a bear market rally. i'm concerned about the next up coming earnings season. >> charles: are you concerned the street's just too overly optimistic right now? >> no. i'm primarily concerned that when you look at all the announcements that have already started coming out, for example, elon musk's announcement, the announcement from microsoft, that you have the rising dollar

impacting earnings, i think we're going to continue to see high commodity prices and high energy prices in addition to the rising dollar impacting companies' bottom lines, and the bounce will be short lived. >> charles: in the meantime, after the close yesterday, we found out all 33 banks survived the so-called stress test, which is almost a joke, but anyway, you know, you know, david, no one can really know; right? unmitigated disaster, like people are going to calmly walk out of the movie theater. we know there's going to be some big announcements on monday. buybacks, dividends, are you buying any of these bank stocks right now? >> i wasn't worried about the stress tests because the banks have come a long way since the bad old days, but the talk of recession has really hit the sector hard. i'm market weight financials but i don't own any of the big banks. this is the best performing sector today. i guess i'm going to have to take a look. i will have to put pen to paper and look at the usual suspects. >> charles: this week software stocks are doing pretty well, and then this morning microsoft,

the top pick recommendation at citi bank. danielle, do you like anything within this, you know, in this bear market bounce environment until we get to the next round of earnings, do you like things like softwares, cybersecurity? >> well, you know, charles, microsoft is and has always been one of my favorite stock picks. no way i'm bailing on microsoft here. there's a lot of overhead resistance at 270. i have to see that stock get through that price point before i would be interested in saying this is more than just a dead cat bounce. as far as additional software names, i only like the mega cap names here. amazon is doing a really good job rallying post split. i think you could trade it up to at least 120, maybe 130. and then i would look at google. google is doing a decent job rallying today. we're breaking up against resistance. i think that we could trade it up to about 2500 before it potentially finds some resistance overhead. >> charles: david, are you buying anything today? have you shifted course yet?

again, we saw the rotation into value. now we saw it into defensive, and now people are not really sure. >> yeah. it actually started a few weeks ago. i started maybe three, four weeks ago, started this move out of value into growth. you know, [inaudible] it is a pretty powerful force. i would say to investors start to move to the center of the boat. i picked some names in this space. most recent pick is a company called pure storage. it is a cloud service company. it services the cloud, but it is not a cloud company itself. you know, it provides the storage capacity. look, i will say right off the bat, this is, you know, a risky stock. it's 7 billion dollars market cap. a lot of beta here. but it's now time to add some growth names to your portfolio. you can't just hide in value, because it is very cyclical, and it could be shark bait in a recession. >> charles: got to tell you, i like when you get frisky like that, david. it reminds me of your old rock and roll days when you had the long hair and everything. david, danielle --

>> oh yeah. >> charles: thank you both very much, appreciate it. there's a lot of uncertainty; right? this might be one of the most uncertain times in the market that anyone can remember. that goes for the economy as well. i'm going to be hosting inflation in america. i'm calling it the hang overeffect, town hall, tuesday, jun 26th. -- june 26th. if you would like to participate, submit your question or join us in studio. i would love to see you. e-mail us at invested in you @ fox.com. up next, the s&p on a wild ride. what are the key numbers before you know the coast is clear? danielle said it was 4100. i've got my own numbers. katie stockton, the pro will tell us. she's next.

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and losing weight. go to golo.com and see how golo can change your life. that's g-o-l-o.com. >> charles: all right, so there's a little bit of like a sigh of relief. i mean the markets are acting better. there's a lot of tests that need to be cleared before we can sort of give it our blessing, right, certainly before technicians can. i will bring you strategies founder katie stockton.

i want to start with the s&p 500. it seems to me we've got a couple big upside gaps that we have to fill, then some other technical hurdles before we can even be anywhere near saying that the coast is clear. what are the most important numbers that we should know about on the upside? >> you know, on the upside, there are gaps, as you mentioned. there's a really minor resistance level. more importantly we focus on the 50-day moving average. last we looked at roughly 4,065. not expecting a breakout above that level. there's more to it than just looking for a breakout in fact. because a breakout will tell you something has changed, right? it will tell you that momentum has improved to a great enough degree. so rather than just focusing on levels, we actually like to focus on momentum indicators. and when we [inaudible] -- >> charles: golly. all right, well, i am hoping that -- you were frozen there a little bit, katie. i know we go through this from

time to time. but we have you back right now. real quick because i want to get to a couple other charts. you were mentioning momentum with respect to the s&p. we're not there yet, though, obviously >> that's right. short-term momentum has improved but intermediate long-term momentum still very much to the down side. we need to respect this down trend as still having a hold on the market. the breakdowns that we've seen are really widespread, and those suggest that we're going to have a rough summer, so we feel like we want to be managing risk still here, just given [inaudible] that has a hold, rather than trying to take counter trend positions. we also feel that instead of a v bottom, this bear market cycle is going to need to really build a base before we can see more sustained advance. >> charles: it is going to have to be tested over and over again. i have two more charts i'm going to go with you. bitcoin, you know, people look to the crypto world. pretty good week for it. where does it go from here?

>> holding up relatively well around long-term support. we have 18,300 to about the 19,500 range. it was a very natural place to see some stabilization. [inaudible]. >> charles: okay. we're trying, folks. again, katie, we came in a little bit garbled again. i think we're going to go past it. i do want to mention that you talked about copper being the number one chart to keep an eye on. we have been watching it closely on this show as well. we will have to get back to you next time. always appreciated because i think you are one of the best technicians in the business. >> thank you very much. >> charles: have a fantastic weekend. what's more really important right now? i mean, you've got one side of the [inaudible] saying hey, we can take inflation pain, but we can't take a recession. the other side is saying you need a recession to get rid of the inflation pain. economist chris lowe is here. he will tell us exactly what we need. meanwhile democrats in congress working overtime to make j powell the bad guy.

i'm going to get reaction from one of the folks who was there grilling him pretty good. the congressman is here on what he calls a lack of self-awareness on washington. we'll be right back. ♪ ♪ wow! it's been 38 years since we were here. back then we could barely afford a hostel. i'm glad we invested for the long term with vanguard. and now, we're back here again... no jobs, no kids, just us. and our advisor is preparing us for what lies ahead. only at vanguard, you're more than just an investor you're an owner. giving you confidence throughout today's longer retirement. that's the value of ownership.

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>> charles: it was a rough week for j powell, but maybe, maybe he did okay after all. we're using the stock market as a judge. kind of like the way it is acting now. joining me fhn financial chief economist chris lowe. you pointed out that powell is between more or less a rock and a hard place. we've got republicans who blame the fed for lingering inflation while democrats will blame the fed if they push the nation into a recession. the question is who is right?

>> who is right? i guess to an extent both of them. we have terrible inflation, and i would argue that's primarily because unlike 2018, last year when we had a massive unnecessary stimulus, the fed looked the other way. there's your inflation. >> charles: interesting note, maybe just got tired of the questions, but powell more or less came out and said as much, i mean as much as he could. both sides always try to push him to agree with their policies or endorse something. he more or less kind of did acknowledge that maybe there was too much stimulus. >> that was the first one. he's always said stimulus is your game. monetary policy is my game. if congress is responsible for fiscal policy, they have to take responsibility for the results. >> charles: he also though seemed pretty almost like he got upset when it was suggested that maybe you don't want to go too far with rates because you are

going to increase how much money our government has to pay. at some point, we may end up paying trillion dollars in interest. again, he's like listen, that's on you. don't tell me how to do my job based on the fact that congress can't stop spending. >> he had to push back on that, because if the fed can't make interest rate policy because congress ties its hands by spending too much money, you know, that's the end of a politically independent fed, which is a disaster. >> charles: what do you make -- this morning we have the michigan sentiment rate, the final rate for june. again, you know, at all time low, i think it is an 85-year-old series. long-term inflation edged down a little bit, but really unmitigated, this report, does it suggest that there's no natural resolution for inflation? before economists would always say high prices are the cure for high prices. we found out so far that doesn't work at least not fast enough. does it mean though that the fed has to push hard on this, that

the only way to resolve it is an aggressive fed? >> i think so, look, as powell said increasingly the things that are causing inflation right now are outside their control. but what that means is they have to push harder on the things that are in their control. and i think that gets back to the question of are they going to tighten too much? they have an obligation to fix inflation, and the longer they wait to do it, the worse the cost is going to be. >> charles: it is so ironic, though, because for years powell and even his predecessor said maybe we will let the economy run a little hot. now they are going to say we're probably going to go too far, but we have no other choice. real quick, the things that are not in its control might be working in his favor as well. what do you make of copper? it's come down a lot. the flash pmi number suggests things are coming down a lot. there are a lot of parts to this inflation question that powell doesn't control but seem to be coming down pretty quickly. >> look, i think that is actually powell.

it's because financial conditions have tightened dramatically in the last three months. you see the mortgage rates too, charles, and housing is -- despite the number this morning, housing over the last six months has turned a 180. so this is the first sign of the recession that's coming, and it's coming partly because the fed tightened aggressively, but because global central banks are tightening aggressively. and it's because inflation has gotten out of control. >> charles: can you say whether or not it will be a shallow recession. >> i don't think it can be shallow. and the reason it can't be shallow is that the fed has already told us in order to beat inflation, they think they have to boost the unemployment rate. that means when the recession starts, if unemployment is still extraordinarily low, they're not going to stop tightening. >> charles: talking about maybe another 2 percentage points, or not that high? 5%, 6% unemployment? >> i think their target is going to be 4 1/2, 5.

you know, the thing is once you kick off a recession, you can't really control how far it goes. i think more likely 6 1/2. >> charles: wow, chris, you're one of the best. i'm kind of sad. you almost made me cry, but you gave it to us straight. thanks a lot. folks, well, we know fed chair powell he was twisting. kind of one of those stretch arm strong toys, like, both sides of the aisle did some of it including my next guest congressman of minnesota. representative, you actually said we can raise interest rates over and over, but the only way to curb is a disaster this bad is to raise interest rates to a catastrophic level. what's a catastrophic level? >> well, charles, thanks for having me. catastrophic, most economists, whether they -- their perspective is from the left or the right or right down the middle will tell that you have to raise interest rates almost to the same level of your inflation. this garbage about 8.5% core

inflation, let's throw in everything, charles. let's throw in housing. let's throw in energy. let's throw in clothing and food. our interest rate -- or our inflation is actually closer to 12%. so what do they have to do? is he keep going to go up up up? they waited too long, and i appreciate your previous guest, but this is all on the fed. the fed waited too long to exercise the powers that it has, and now rather than acknowledge that, they basically try to provide cover for the administration that caused this inflation, and they're coming in too late, and now americans are getting punched in the face by double digit inflation we haven't seen in 40 years. >> charles: chris acknowledged what you said, that they are going to have to go harder than they are going, and that they actually have no choice. so the question now, though, are you confident that powell a, can, and b, will pull this off? >> we really have no choice. am i confident in the chair

after our discussion yesterday? no, i think credibility was an issue, right? you've got a president who says the 1.9 trillion dollars american rescue plan did not have any impact at all on inflation, when in fact larry summers, someone beloved by democrats, an economist told him in january and february before he passed the american rescue plan or signed it, that this was going to kick off inflation like we haven't seen, and now, here you've got the president denying that he's responsible for it. you've got the treasury chair trying to suggest that she made a mistake. it wasn't transitory. and now we've got our federal reserve chair trying to play both sides of the aisle. that's not their job, charles. we need a chair who says look, you can't spend money like this. you've got to rein in the money. you have to have all of the above energy policy because it is energy that drives our economy, and they have killed our energy sector by their attack on fossil fuels, and

because of them, they have driven energy prices sky high through the roof, and that has contributed with the spending to double digit inflation like we haven't seen. the sad part is, charles, it is not going to end soon. >> charles: let me get back to the fed for a moment. goldman sachs had an interesting note out today saying that political campaign ads pose further risk to consumer inflation expectations. i mean, because everyone's going to have these ads out there saying prices are going sky high. when people see those ads, they are going to say wow, prices are going sky high. do you think that's going to be an issue? >> i think the issue is the administration. the issue is the central bankers. the issue is the balance sheet. i mean, you and i are talking about the fed raising interest rates, but they've done nothing to start to whittle down a balance sheet that's so bloated, it would [inaudible] a raccoon that's road kill on a northern minnesota highway on 100 degree day. they've got to start attacking

the problem where it is, and they're not doing it. >> charles: yeah, that was one heck of an image you just imparted in my head. i hope i can shake it off before the day is over. i have 20 seconds left. what are you telling your constituents then, you know, about their prosperity? i mean, it sounds pretty dire right now. >> look, if we're going to get this under control, the first you got to do is start to allow us to have all of the american energy independence that we had before this administration came in. >> charles: yeah. >> then you have to start to control your spending. look, charles, we have to look at the united states of america as a broken business. we're coming in. it's got huge debt. somebody has to talk about taking the 30 trillion dollars of debt which we didn't have in the late 70s, when we were able to grow ourselves out of it, after the reagan administration. now we've got 30 trillion dollars of debt. you have got to somehow figure out how you're going to take that debt, refinance it, to pay it off, and get this country moving again. >> charles: we got to go. in all fairness, that debt has

built up under both parties. you have one heck of a job, sir. representative, thank you very much, appreciate it >> thank you. >> charles: the supreme court officially overturning roe v. wade. a decision expected after that leaked draft weeks ago, but it still hit like a ton of bricks today. we will go live to d.c. protests are happening. we're going to get reaction from senator marsha blackburn. don't go away. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones

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>> charles: historic ruling coming from the supreme court as the decision has been made to overturn roe v. wade. president biden responding a short time ago stating this is not over. hillary vaughn joins with us more on this story. hillary? >> hi, charles. president biden has a rallying cry for his base, abortion rights are on the ballot in november, he says. he says he doesn't want the supreme court to have the final say. he wants voters to push congress

to act. >> made the united states an outlier among developed nations in the world. this decision must not be the final word. congress must act. with your vote, you can act. you can have the final word. >> -- trying to turn down the temperature. senator rubio tweeting that this just gives states the authority to decide whether or not to allow abortion. senate minority leader mcconnell pointing out this is not a radical point of view. he says it is mainstream saying this, quote more than 90% of europe restricts abortion on demand after 15 weeks but every state in america has been forced to allow it more than a month after it. judicial activists declared that every state had to handle abortion like china and north korea and no state could handle it like france or germany. not anymore. now the american people get their voice back. some democrats like senator sanders are calling for an end to the filibuster to help

congress codify roe v. wade into law. biden himself admitting they do not have the votes right now to do that. president biden also directly addressed the protesters that have been swarmed outside the supreme court since this morning, telling them that any protesting has to remain peaceful. >> with this decision, the conservative majority of the supreme court shows how extreme it is, how far removed they are from the majority of this country. it was three justices named by one president, donald trump, were the core of today's decision. >> while calling for things to remain peaceful and for people not to threaten or intimidate any of these justices, he at the same time made three justices, justice amy cone barrett, brett kavanaugh, and neil gorsuch targets if his remarks and also pointed out many times that the supreme court decision in his view is extreme and it's

radical. charles? >> charles: hillary, thank you very much. joining me now republican senator marsha blackburn from tennessee. and senator, just your initial thoughts as the news crossed the wires. >> oh, charles, this is such a blessing. pro-lifers have fought for decades to build a culture of life, and what is so interesting to me, calls coming into our office, when they would say oh, we don't want a ban on abortion. we would say well, it's not. this sends it back to the states. and they would say oh, well, i didn't understand that because that made sense to them, that the state, where they live, tennessee would be able to set regulations and restrictions on abortion. so i think we have some that are overreacting. i was -- i thought it was very inappropriate, merrick garland's

statement today, the president's statement, i find so interesting because he had supported a constitutional amendment that would send abortion back to the states. >> charles: uh-huh. >> and that was back in 1972. so it's really sad to see how he is now changing what he had at one point believed. >> charles: senator, you know, to that point, i was taking some notes as president biden was speaking. it stood out to me, you know, he says we're taking the nation down an extreme path, use these examples of rape and incest, and then, you know, of course we know they would like to codify roe, but the notion that maybe they would be willing to change the rules that are already in place. just what you make of his reaction. obviously i guess he's got to be political to a certain degree, but it just seems like it's fanning these flames more than they need to be fanned right

now. >> yes. you have these groups like [inaudible] that are saying they are going to carry out this night of rage and summer of rage, and it's inappropriate for the attorney general or the president or the white house or anyone to be fanning those flames of rage. there are plenty of times decisions have come down from the court that i didn't agree with, but i respect the court and their right to make those decisions. and what we see with this is that as they exercise their right to revisit a decision, as they looked at the dobbs case, and attorney general finch of mississippi who led this effort and did a wonderful job with this effort, laying out that case, that the court looked at that reasoning that she had presented to the court, in her

briefings and the argument that her team made, and they decided yes, indeed, this is something that should go back to the states, to the people to have their say. >> charles: you mentioned educating callers who have their own concerns in your home state. how concerned are you, though, with the clarence thomas opinion that appears to have left the door open for the left to make these claims. they are saying that now the courts are going to ban same sex marriage, mixed race marriages, contraception. i mean, they have really said that this is the aim now of this quote unquote trump-led court. >> what they need to realize is this decision is about abortion and who makes these decisions on abortion, and that's what they presented today. now, the states are going to

take the lead in setting these regulations and restrictions. and it is not a ban on abortion. >> charles: what about the other part of their argument that you're going to hear a lot, that this will devastate -- have a really dramatic overwhelming devastating economic impact on disadvantaged women? >> i really beg to differ with that. and i know a couple of times there have been those in the administration that have tried to make that argument, and i have found senator tim scott in his response to janet yellen being so effective in how you want to make certain that everyone regardless of their zip code, regardless of their status in life, that those children have their right to life, and that is what this is about. >> charles: uh-huh. >> and i think that what you're

going to see is the states move forward. i know that many church groups and many crisis pregnancy centers, when there is someone who is expecting a baby, and they are having a difficult time, they really wrap their arms around those individuals and walk with them through that process, and i think you are going to see more of that, charles. >> charles: i think so too. senator blackburn, thank you very much, appreciate it. >> good to be with you. thank you. >> charles: coming up, i will give you my take away on why wall street is always always i don't know dissing individual investors and wanting to sell at the bottom. also, inflation, is it making life better? some are saying stop whining. it is okay. i want to know what dave webb has to say. he is next.

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saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities. >> charles: today supreme court ruling overturning roe v. wade comes at a time when our nation was already in a major economic malaise, and let's face it, civil discourse has been in a free-fall. and it's all -- really looks

like it is going to get worse before it gets better. are we taking even for granted that things will get better? i want to bring fox nation host david webb. we learned that the university of michigan, 47% of american consumers blame inflation for eroding their living standards. that's one percentage above the low from the global financial crisis. the number itself is at an all time low. you do this. you have the pulse of the public. we assume everything is cyclical. is it cyclical that we're going to be more of a united states of america at some point? >> look, malaise and anger i think are a real problem right now. that's a dangerous combination. usually, you know, americans, we find a way; right? business, you find a way. in america, you find a way in spite of government and in spite of policy. what i'm hearing from a lot of people now that they are concerned that the light at the end of the tunnel is the train coming at them, not the light on

the horizon when you get out of the tunnel. our ability to recover? how do you sustain? how do you maintain? how do you recover? if people start questioning how they recover, then, you know, that animal instinct to go out, i'm an american, i'm going to win, takes a beating. i'm worried about that because when you give up or when you start to give up, that can become a dangerous thing. >> charles: i have always said that a large part of our success is self-fulfilling. you must believe you can do it in order to do it. it is not like scratching a lottery ticket. president biden spoke earlier today. i thought it was good he said don't go out there and be violent, but i thought it was sad he had to say it. it reminds me of the aftermath of last year, all the riots we saw, and even right now where you have some politicians who are egging on these groups who want to have anarchy in the streets. isn't that a big component in all of this >> it is a big component.

i want to put towards, implicit. a lot of the left wing politicians have pushed this discontent whether it's post-george floyd, antifa, blm. there's implicit. when the president takes weeks, when he takes this long after a planned assassination of a supreme court justice, for that example to talk about peace. you are the president of the united states. your words have meaning, but then we're dealing with ideologues, implicit, that's dangerous. when you add to that angry and malaise, you have a public that doesn't trust. that lack of trust is dangerous. >> charles: i got 30 seconds. a lot of companies are coming out saying hey, we'll pay for you to travel if you need to get an abortion or any kind of other aid. but i am worried about states or even companies saying hey, we'll leave a state. is there a place where these corporations should draw the line on the supreme court ruling

today? >> tough one, look, you're a private industry, private company, you have a right to do what you want with your money, offer your employees a benefit. >> charles: many people believe like disney, for instance, went too far, that, you know, that some of these entities have gone too far, and i think they pay an economic price for it. >> they pay a price. the other thing is how many people are they actually paying for? is some of this virtue signalling? >> charles: let's say a company says we want to move our stores out of mississippi or something like that. would that be in your mind just ridiculous? >> it would be ridiculous. ask mlb how it worked in atlanta. >> charles: we have to leave it there. david webb, thank you very much. wall street is desperately hoping that the retail investor chucks it all in. tweet me. i would love to hear what you have to say about that. i can't wait to share my thoughts. my take away is next. i hope you listen. we will be right back. ♪ ♪

charles: so this week wall street continued to complain loudly about retail investors not selling even though we're in the midst of the second worst start ever, do they really want you to sell at this point? isn't in the time maybe you should be buying? according to a piece in the journal, there's only one bastion, and that's the individual investor. it's really remarkable. for years wall street chastised

folks for not being in the market. and then they said, hey, when you do get in the market, you want to make sure that you buy low -- kind of low right now -- hold long term and try not to panic. yet during this new investor revolution, individual investors have had to really been called, well, listen, first of all, heavy been called any manner of degrading things by the experts, but more than that that, these same experts have been buying high, rotating daily on an effort to always be right on any given day. and if anyone's panicked, it's wall street. active investors right now, they've only got a 19% stock exposure. mon monon investing perfectl there's no so s thing. elie itr o ootot, i want to give a shout-out, i t,o congresswoman maxin wats. the despicableble treatmereatf tail investors. it's 150 payments long, so obviously i have not read it.

the excerpts are promising. this is 18 months of looking at all the junk wall street did, so is maybe, just make -- maybe, we can see the the playing field leveled. i do have a memo for wall street: they ain't leaving, and i don't want 'em to lee. liz claman, over to you. liz: we just hit session highs, charles. charles: that's me. liz: yesterday i quoted meatloaf with who out of three ain't bad, do you want a new one? if. charles: yeah. liz: bill withers' lovely day. [laughter] charles: you never can go wrong with that one. liz: as i said, we just hit session highs. dow, nasdaq, season looking to notch their first weekly gain in four as investors believe maybe, just maybe the fed's interest rate hikes are already starting to work? could that mean the fed can take the its foot off the rate